Bought: ZONS @5.84

This is one of those chart patterns that I just can't resist. This is definitely an impulsive trade that showed up on one of my volume surge screens.

Even after it's quick advance, the stock seems to be richly undervalued, and has very low institutional ownership, leaving ample room to go up. Broadly speaking, it's a retailer which sells technology products to companies. The reason it's attractive is because it is showing good price strength, is profitable and undervalued

Also the price is now above $5 a very important level for the stock to show up on the institutional screen.

One the flip side, the stock has had a history of going dormant and declining slowly for extended time periods. I would consider this a short to medium term trade.

If the first round of buying has been from some institutions, we should see support at around 5 to 5.5